Abdul Samad Rabiu, the Chairman of BUA Cement Plc and the founder and Chairman of BUA International Limited, has sold 27,130,000 shares of BUA Cement Plc acquired through BUA International Limited.
The leading cement manufacturer stated in a disclosure statement signed by Ahmed Aliyu, Company Secretary, BUA Cement Plc and filed with the Nigerian Exchange Limited.
The transaction took place between 10th October 2020 and 17th May 2021 in Lagos, Nigeria.
The billionaire entrepreneur cum philanthropist sold the shares at N71 a unit. Bringing the total amount divested to N1,926,230,000.
Before the sales, Rabiu’s direct and indirect shares in BUA Cement were around 31.27 billion, accounting for 92.3 percent of the total issued shares of the company.
The company’s market capitalisation since listed on the Nigerian Exchange Limited on January 9, 2020 has risen by N1.3 trillion with the price of the cement manufacturer appreciating from N36.78 to N71 a unit.
BUA International Limited, food, mining and infrastructure conglomerate, was founded by Abdul Samad Rabiu in 1988 with business interests in Cement Manufacturing, Sugar Refining and Plantations, Rice, Flour Milling & Pasta Production, Oil & Gas, Construction, Real Estate and Logistics.
Abdul Samad Rabiu studied Economics at Capital University, Columbus, Ohio, USA and he holds the Nigerian National Honour of ‘Commander of the Order of the Niger’ (CON).
Total, Dangote Cement, Oando Bolster Stock Market on Thursday
The Nigerian Exchange Limited closed in the green on Thursday following renewed interest in the shares of Total, Cutix, Oando, Dangote Cement and others.
Investors transacted 203,110,772 shares worth N1.724 billion in 3,969 deals during the trading hours of Thursday.
Market capitalisation of listed stocks improved to N20.104 trillion while the Nigerian Exchange Limited (NGX) All-Share Index rose by 1.67 percent to 38,585.52 index points.
Total led gainers with N16.80 or 10 percent to settle at N184.80 after posting a 1601 percent jump in profit after tax for the first half of 2021. Cutix and Oando trailed Total with 9.77 percent and 9.73 percent, respectively. See the details below.
|TOTAL||N 168.00||N 184.80||16.80||10.00 %|
|CUTIX||N 3.99||N 4.38||0.39||9.77 %|
|OANDO||N 3.29||N 3.61||0.32||9.73 %|
|DANGCEM||N 230.00||N 248.00||18.00||7.83 %|
|COURTVILLE||N 0.22||N 0.23||0.01||4.55 %|
|AIICO||N 1.15||N 1.05||-0.10||-8.70 %|
|SOVRENINS||N 0.31||N 0.29||-0.02||-6.45 %|
|VERITASKAP||N 0.25||N 0.24||-0.01||-4.00 %|
|LIVESTOCK||N 1.97||N 1.90||-0.07||-3.55 %|
|ARDOVA||N 15.50||N 15.00||-0.50||-3.23 %|
Stocks Market Extends Decline Last week, Sheds Another N25 Billion
The Nigerian Exchange Limited (NGX) extended its decline last week as the bourse depreciated by another N25 billion following a N123 billion decline recorded in the previous week.
Investors traded 1.008 billion shares worth N10.923 billion in 17,297 deals during the week, against a total of 1.348 billion shares valued at N12.140 billion that exchanged hands in 21,581 transactions in the previous week.
In terms of volume traded, the financial services industry led the activity chart with 732.418 million shares valued at N7.213 billion traded in 9,131 deals. Therefore, contributed 72.62 percent and
66.04 percent to the total equity turnover volume and value traded in the week, respectively.
The Conglomerates Industry followed with 52.931 million shares worth N170.271 million in 656 deals. The third place was ICT Industry, with a turnover of 52.716 million shares worth N1.806 billion in 701 deals.
The top three most traded equities were Guaranty Trust Holding Company Plc, United Bank for Africa Plc and Zenith Bank Plc. The three accounted for 261.741 million shares worth N5.813 billion in 3,498 deals and contributed 25.95 percent and 53.22 percent to the total equity turnover volume and value, respectively.
The market valued of all listed equities dipped by 0.12 percent or N25 billion from N19.796 trillion recorded in the previous week to N19.771 trillion last week.
The NGX All-Share Index also depreciated by 0.12 percent or -47.01 index points from 37,994.19 index points posted in the previous week to 37,947.18 last week.
All other indices finished lower with the exception of NGX Banking, NGX AFR Div Yield, NGX MERI Growth, NGX Oil/Gas and NGX Sovereign Bond indices which appreciated by 0.09 percent, 0.32 percent, 0.15 percent, 1.81 percent and 0.64 percent, respectively. While the NGX Premium, NGX ASeM and NGX Growth Indices closed flat.
Equities Market Closed in the Red on Thursday as Sentiment Remains Weak
Nigerian equities closed in the red on Thursday amid weak sentiment and market uncertainties ahead of second-quarter reports.
Investors traded 159,996,570 shares valued at N927.859 million in 3,038 transactions, against a total of 197,231,557 shares worth N2.139 billion that were traded in 3,610 deals during the trading hours of Wednesday.
Nigerian Exchange Limited All Share Index declined by 0.01 percent to 37866.90 index points, down from 37872.55 index points it closed on Wednesday.
Market value of all listed stocks shed N3 billion to N19.729 trillion from the N19.732 trillion posted on Wednesday. Sovereign Trust Insurance Plc led gainers with N0.03 or 10 percent to settle at N0.33 a unit. This was followed by FTN Cocoa Processors Plc with N0.04 or 9.76 percent gain to close at N0.45 a unit.
|SOVRENINS||N 0.30||N 0.33||0.03||10.00 %|
|FTNCOCOA||N 0.41||N 0.45||0.04||9.76 %|
|CWG||N 1.14||N 1.25||0.11||9.65 %|
|AIICO||N 1.05||N 1.15||0.10||9.52 %|
|REDSTAREX||N 3.11||N 3.36||0.25||8.04 %|
|IKEJAHOTEL||N 1.40||N 1.27||-0.13||-9.29 %|
|UPDC||N 1.43||N 1.30||-0.13||-9.09 %|
|WAPIC||N 0.59||N 0.54||-0.05||-8.47 %|
|UPL||N 1.52||N 1.41||-0.11||-7.24 %|
|UNITYBNK||N 0.63||N 0.59||-0.04||-6.35 %|
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